Jones embezzled $10,000 from his company's account in Bank A. At year-end he hid the shortage by making a deposit on December 31 in Bank A, drawn on Bank B. He has not recorded the transaction on the books. This is an example of Kiting.
A bank is a type of financial institution that lends money, accepts deposits from the general public, and produces demand deposits. Banks can lend directly or indirectly by using capital markets.Since banks are crucial to a nation's financial stability and economy, most legal systems place strict regulations on them.
A system known as proportional reserve banking, in which banks hold liquid assets for just a portion of their short-term liabilities, has been institutionalised in the majority of nations.
The correct option is D.
The above question is incomplete, the complete question is-
Jones embezzled $10,000 from his company's account in Bank A. At year-end he hid the shortage by making a deposit on December 31 in Bank A, drawn on Bank B. He has not recorded the transaction on the books. This is an example of:
A. Effective cash management.
B. Related party transactions.
C. Lapping.
D. Kiting.
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